Jakarta, the capital city of Indonesia –
The European Commissioner for Energy said the European Union’s next steps to address the deepening energy crisis following Russia’s invasion of Ukraine are expected to be announced next week.
Many European countries have tightened their belts as energy costs soar. Russia’s state energy company has continued to shut down a natural gas pipeline to Europe, in what German officials see as a political power game, and the president of the European Commission says that the EU’s electricity market “no longer works” amid the impact of the Ukraine war.
An extraordinary meeting of the European Union’s energy ministers will be held in Brussels on Friday to discuss a bloc-wide package of solutions to soaring electricity market costs, Commissioner Europe on energy Kadri Simson told The Associated Press in an interview.
She said the European Commission expects the package to be approved next Tuesday and that a decoupling of gas and energy prices, increased market liquidity and a coordinated reduction in demand can be expected in it. That could include temporary caps on the price of gas used to generate electricity, revisions to energy exchange trading rules and coordinated demand reduction measures as seen over the summer. .
“We know that there are peak hours where our households and businesses have to see extremely high hourly rates,” she said in an interview at the European Delegation’s office in Jakarta. . “Part of this proposal is also addressing peak hours and how it would cut demand at these specific times.”
European countries have worked hard to be innovative about energy alternatives. One short-term solution is about 20 floating terminals that will receive liquefied natural gas from other countries and convert it into natural gas for households and businesses.
The plan, with the first floating terminals set to begin delivering gas later this year, has raised alarm among experts who fear the long-term consequences for environment. They warn that the terminals will prolong Europe’s reliance on natural gas, which emits climate-warming methane and carbon dioxide as it is produced, transported and burned. .
“Currently, in a situation where Russia is using its natural gas supply as a weapon, we have to be concerned with securing supplies. And that means some investment is required. special investment,” Simson said when asked about environmental concerns.
Simson also acknowledged that rising global gas costs have prompted some countries to use cheaper but more environmentally damaging energy sources.
“We’re taking responsibility,” she said. “The biggest step we are taking to not affect the global gas and LNG markets is agreeing that we will cut our gas consumption.”
The European Union has a binding commitment to cut greenhouse gas emissions by at least 55% by 2030 and reach net zero greenhouse gas emissions by 2050. Natural gas has been promoted as a “bridge fuel” because in power plants it produces less carbon dioxide. when burned than coal. But some experts criticized the move.
“For this winter, we have made – and several national governments have made – a series of commitments to reduce energy consumption,” said Simson. “We’re not going to meet our climate goals unless we’re going to make energy savings a priority.”
Simson also said that the current energy crisis in Europe has made it clearer that renewables such as solar and wind are essential for energy in the future.
“Renewable energy is not only important in terms of the climate, it also allows us to take responsibility for our own consumption,” she said.
Simson went to Indonesia to attend the Group of 20 top rich and developing countries meeting in Bali.
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